SG Americas Securities LLC Sells 2,334 Shares of Primerica, Inc. (NYSE:PRI)

SG Americas Securities LLC cut its holdings in Primerica, Inc. (NYSE:PRIGet Rating) by 26.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,586 shares of the financial services provider’s stock after selling 2,334 shares during the period. SG Americas Securities LLC’s holdings in Primerica were worth $813,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. grew its position in Primerica by 55.7% during the first quarter. American Century Companies Inc. now owns 13,707 shares of the financial services provider’s stock worth $1,875,000 after buying an additional 4,901 shares in the last quarter. US Bancorp DE grew its position in Primerica by 1,844.1% during the first quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,881 shares in the last quarter. HighTower Advisors LLC grew its position in Primerica by 4.7% during the first quarter. HighTower Advisors LLC now owns 6,839 shares of the financial services provider’s stock worth $939,000 after buying an additional 307 shares in the last quarter. Bank of Montreal Can grew its position in Primerica by 0.8% during the first quarter. Bank of Montreal Can now owns 24,752 shares of the financial services provider’s stock worth $3,413,000 after buying an additional 199 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Primerica by 33.4% during the first quarter. MetLife Investment Management LLC now owns 25,533 shares of the financial services provider’s stock worth $3,493,000 after buying an additional 6,396 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $145.19, for a total transaction of $508,165.00. Following the completion of the sale, the president now owns 15,752 shares in the company, valued at approximately $2,287,032.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Glenn J. Williams sold 4,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $142.38, for a total value of $569,520.00. Following the completion of the transaction, the chief executive officer now directly owns 54,215 shares of the company’s stock, valued at approximately $7,719,131.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $145.19, for a total transaction of $508,165.00. Following the completion of the transaction, the president now directly owns 15,752 shares of the company’s stock, valued at $2,287,032.88. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $1,295,890 in the last quarter. Insiders own 0.85% of the company’s stock.

Primerica Price Performance

Shares of PRI opened at $152.21 on Friday. The company has a market capitalization of $5.62 billion, a P/E ratio of 21.47 and a beta of 1.20. Primerica, Inc. has a one year low of $110.22 and a one year high of $159.47. The business’s 50 day simple moving average is $143.52 and its 200-day simple moving average is $134.60.

Primerica (NYSE:PRIGet Rating) last announced its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, topping the consensus estimate of $3.00 by $0.02. The business had revenue of $673.29 million for the quarter, compared to the consensus estimate of $675.99 million. Primerica had a return on equity of 22.96% and a net margin of 10.01%. Primerica’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.98 EPS. On average, sell-side analysts anticipate that Primerica, Inc. will post 10.93 EPS for the current fiscal year.

Primerica declared that its Board of Directors has authorized a share buyback program on Thursday, November 17th that authorizes the company to repurchase $375.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Tuesday, November 22nd were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 31.03%.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, November 10th. Finally, Morgan Stanley lifted their price objective on Primerica from $137.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $164.00.

About Primerica

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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